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Question : Trade creditors Rs. 1,60,000. Half of the trade creditors accepted Plant and Machinery Settled an agreed valuation of Rs. 54,000 and cash in full settlement of their claims after Allowing a discount of Rs. 16,000. The remaining trade creditors were paid 90% in the final settlement.
Bank account will be credited/debited by .....

Option 1: Credited by Rs 10,000

Option 2: Credited by Rs 72,000

Option 3: Credited by Rs 60,000

Option 4: Credited By Rs 82,000


Team Careers360 21st Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: Credited By Rs 82,000


Solution : Answer = Credited By Rs 82,000
Realisation AIC Dr. 82000
To Bank A/C 82000

Creditor= 1,60,000
Half creditor= 1,60,000×1/2 80,000
(-) Plant and machinery (54,000)
26,000
(-) Discount on creditor (16,000)
10,000
Remaining creditor(80,000×90%) 72,000

Hence, the correct option is 4.

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